Stories for December 10th 2012

The head of the Argentine-Jewish Community Centre (AMIA), Guillermo Borger, warned the government of President Cristina Fernandez that the organization’s members are concerned by the lack of information regarding ongoing negotiations with Iran over the 1994 terrorist attack on the AMIA headquarters, which killed 85 people.

Argentina’ nationalized oil and gas corporation YPF is said to be in talks with Norway’s Statoil about a possible partnership as part of its 37 billion dollars drive to develop Argentina’s energy reserves. It is close to signing deals with US oil giant Chevron as well as Bridas Corp, the Chinese-Argentine joint venture, the Financial Times reported on Sunday.

Brazil's government has unveiled plans to invest 54.2 billion Reais (approx 26 billion dollars) over the next four years to modernize the country's ports, whose high costs and notorious delays are eroding the country’s competitive edge.

The Brazilian air force, awaiting the outcome of the selection process for purchasing 36 fighter jets, is leaning toward the F-18 Super Hornet of the US, which is competing against the French Dassault Rafale and the Swedish Gripen, Istoe magazine said.

The former jet-setting premier of the British Overseas Territory Turks and Caicos Islands has been arrested in Brazil after disappearing a few years ago. Michael Misick was detained last Friday at the Santos Dumont Airport in Rio de Janeiro, governor spokesman Neil Smith said.

Standard Chartered will pay more than 300 million dollars to settle charges it violated US sanctions on Iran, Burma, Libya and Sudan. The UK-based bank has been fined 100m by the Federal Reserve and the Department of Justice seized assets worth 227m, the regulators said.

The Vice-president of the European central bank Vitor Constancio said the EU has much to learn from Latin America which has coped with successive economic and financial crises and has managed to create robust financial structures which have made the region’s system even more resistant to outside shocks.

Former Economy minister Roberto Lavagna said that it will take Argentina “at least three years” to liberate the country from the ‘dollar clamp’ if as of this month it was decided to execute a policy to end restrictions on the purchase of foreign currency.

Argentina is expected to trim the quantity of 2012/2013 wheat destined for overseas shipment to 4.5 million tons from a previous 6 million due to a smaller than forecast harvest, a local newspaper reported on Saturday.